The popular company Discover credit card has recently entered the prepaid reloadable debit card market. They have two prepaid cards the nFinanSe Prepaid Discover Card and the Young Money Prepaid Discover Card.
Where Can I Use The Discover Prepaid Debit Cards?
The nFinanSe prepaid card and the Young Money prepaid card by Discover are accepted online and over the phone. These prepaid debit cards have created to give you an alternative to increasing checking account fees from financial institutions.
The Discover nFinanSe prepaid card is also issued as a reloadable Visa card in case you are concerned about where your Discover prepaid cards will be accepted. Instead you can choose a Visa. However your Discover prepaid card is accepted at 90% of the locations you can use a MasterCard or Visa at.
In other words, your restrictions are minimal if you choose to get a Discover prepaid card instead of a major prepaid MasterCard or Visa. The Discover card is part of the pulse ATM network. This means that you will have ATM access to withdraw cash at over 675,000 locations with your Discover prepaid card.
You also get:
- Fraud Protection on Unauthorized Charges
- Free 24/7 Online Account Access
- Free Direct Deposit
- and much more.
Fees For The Discover Prepaid Cards
This is a bit confusing because Discover prepaid does not actually issue any prepaid cards. Instead, Discover has teamed up with banks who actually issue you the prepaid card. That specific bank is able to choose the fees you pay and thus each card is slightly different.
To clarify the Young Money prepaid card carries slightly different fees than the nFinanSe prepaid Card both by Discover. Please review the fee schedule before applying for any prepaid card offers often these exact terms and conditions will change slightly.
The Young Money Prepaid Card Fees
The Young Money Prepaid Discover Card is branded by the popular hip-hop rapper ‘Lil’ Wayne. This card is issued through MetaBank. And some of the basic fees include:
- One-time Purchase Fee of $6.95
- Reload Fee of $4.95
- Monthly Maintenance Fee of $3.95
- $2 ATM Withdrawal Fee
- or $3 If Outside of the United States
There are a few other basic fees. But this is relatively standard fee schedule for reloadable online prepaid credit card offers. In fact, the monthly maintenance fee of $3.95 is lower than most competitors. You also can get cash back with the prepaid Young Money debit card.
nFinanSe prepaid card Fees
The nFinanSe prepaid card is issued by the First California Bank, a member of the FDIC. According to reports this debit card is commonly used by employers as a payroll prepaid card.
In other words, many places of employment will issue you your paycheck on the nFinanSe reloadable card. The fees is for the nFinanSe debit card include:
- $3 Retail Purchase Price
- $2.95 Reload Fee
- $0.99 ATM Cash Withdrawal Fee
- $2.95 Monthly Fee
There there are a few more fees but these are the most essential fees. In our opinion the nFinanSe prepaid card looks to be more cost efficient with a lower monthly fee and lower purchase price. For more tips and strategies to erase bad credit with Dan Willis sign up for our free newsletter. Get expert help with a free credit consultation by calling toll-free 1-877-418-7596.
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